| OK I'll bite. Nothing about the article or YT video is innovative, some of it is laughable. Algorand's consensus per the YT video you linked is
step 1. 1 user is randomly chosen to propagate a new block (can user make up a fake block? let's assume not)
step 2. 1000 users randomly selected vote on that block and if they agree, it's DONE.
(what if 1000 users are in the same country/company, etc. how do you prevent collusion on fake blocks) This is hilarious. So the only thing you rely on for consensus is 1001 random 'users' input weighted by stake? What happens when your network is bombed with 1000tps and you need to contact 1001 staked users for every block? There are also vulnerabilities such as the recent "fake stake" bug that affect pure POS coins which I won't go into. Now about the article referencing Vault. I believe NANO came up with this bootstrapping feature: > Each user account only ever stores the balances of the accounts in its assigned shard Yes they are replicating NANO's block lattice structure using "shards" with an insecure way of trusting any future chain that includes your old tx's but gives no guarantee on the state of any other account. As I understand it, I can be fed a fake chain while bootstrapping and accept phony funds as long as my balance shows up, right? ...Assuming this feature worked without any security holes, what's to stop other coins from implementing it? You don't need an entire cryptocurrency for it, it's just a feature and if it worked everyone would be using it. The sharding problem has not yet been solved and there are coins like Ethereum that are trying really hard to make it happen. It's really sad to see this low-quality content come out of MIT. This looks like someone trying desperately to get a piece of the Crypto pie using MIT's reputation as a get rich quick scheme. Just for kicks I looked through reddit/r/cc and found only 5 dead posts mentioning Algorand with no comments on any of them. Their website makes all these claims about "pioneering a sortition algorithm" that looks "totally legit" if you ask me. |